Exerclse $20-35($Algo$)$ Business Valuation $[$LO $20-4]$

Willisms Compony is a manufacturer of outo parts hoving the following financisl statements for $2021-2022.$

$*$Operating expenses include deprecistion expense.

Additional finsencial informstion, including industry oversges for $2022,$ where sppropriste, includes:

Required:

Develop a business valuation for Willisms Company for $2022$ using the following methods: $(1)$ book value of equity. $(2)$ morket value of

equity, $(3)$ discounted cosh flow $($DCF$),(4)$ enterprise value, and $(5)$ all the multiples$-$bssed valustions for which there is an industry

sverage multiplier. For the calculation of the DCF valustion, you may use the simplifying sssumption that free cosh flows will continue

indefinitely at the omount in $2022.$